Washington, 6/23/2003(Agência Brasil - ABr) - President Luiz Inacio Lula da Silva, speaking during a press conference, declared that what everybody in his administration wants is a real interest rate (Selic less inflation) of one digit. Lula said that would be possible when inflation was stable at around 7% annually. "What we cannot have are interest rates running at 30%, 40% or 80% like they are now on Brazilian financial markets," said the president.

Lula added that a one-digit interest rate is a dream the government is struggling to make real. "We are working for this. This is a relentless quest for investments in production, not financial speculation. We are working with limited resources and we must ensure that they reach the consumer and the small businessman in the form of lower interest rates," he concluded. (AB)